Do you Believe Government Data on the Economy?

I have the opportunity to stay constantly updated on the various data sets that the government puts out every month. I am always amazed at the huge adjustments made on the previous month’s data and how data is manipulated during political battles. Whether the battle be for the elections or some law the congress and administrations want to pass. Look at the data provided when the last Amnesty law was passed under Regan. The Regan Administration estimated that there were 2.5 million illegal immigrants. When all was said and done that number became 4.5 million individual, without considering spouses, children and others who then became eligible for citizenship.

The most recent example is the Bush Administration’s data on GDP. In May the government revised upward its estimates of 2006 GDP to 5.3%. This week the same Government indicated that 2006 GDP will be just over 3% and 2007 GDP will be just under 3%. Strangely enough just after the elections the government realized that our country is growing at 50% of the rate it had indicated just 6 months earlier. I am not saying that our government, paid for by you and me, is lying to us. Perhaps they are just terribly incompetent.

There are those who continue to say that the US is the #1 economy in the world. That the entire world would like to be the US, yet our immigration arrives only from third world countries. The government says that unemployment is 4.4%. At 4.4% everyone who wants a job, has a job. What are you complaining about Joe Worker? Get a job!

I propose that the data provided by the government and so widely pimped by politicians is worth less than cow manure. You can use cow manure to fertilize land and in some cases it can be a fuel source but data like this is misleading and in some cases just plain false. My opponents will immediately ask, “Why would the government lie to us?” Simply, if they provide official data that the economy is good then you and me, Joe Worker, when we are working at a job that pays ½ the salary as 5 years ago, well we are just unlucky or unqualified.

How do we see when the governmental data is bullhonkey? Look at what is going on around you. Last month Toyota opened a new plant in Texas, for 2,000 jobs they received 110,000 applications. That should tell you that labor markets are flush with supply and very little demand. An easier verification of the strength of the job market is looking at employer’s job offers. You can see them on many different job sites. If you see a company looking for a degree in Business Administration for an office manager then you know that labor markets are extremely flush. If you see companies doing credit checks on employees then labor markets are extremely flush. If you see your salary stagnating over a 5 year period, less than a 10% increase after adjusting for inflation, the labor markets are extremely flush.

This same concept can be applied to everything the government proposes. From immigration to public debt, the most valuable indicator is what is happening around you. As for the question that the US is the number 1 economy in the world and globalization is a good thing and the trade deficit does not matter, the best indicator is the Dollar / Euro exchange. In 1998, $0.79 bought 1 Euro, today it takes $1.30 to buy 1 Euro. It seems to me that the European market is doing better than the US.

So why is all of this important?
The best way to control a people and strip it of its rights is to keep the people in the dark. If you do not know better you think this is normal and you will accept your fate and be content allowing the politicians to live the fat life on your back. Talking points and governmental data and studies are the book burnings of the emperor class. Our politicians must keep us in the dark so that they can move ahead with their private agenda. We can stop them. All we have to do is look at what is happening around us and turn off the noise from the politicians.

Tags: Politics Corporate America Corrupt Politicians Government Data War on the Middle Class Border Security Port Security Stop Pork Spending Illegal Immigration